India’s online media streaming market has exploded, growing nearly 4 times in just 6 years. Here are the main players

The number of online content and video streaming platforms in India have jumped from nine in 2012 to 32 in 2018, according to a recent report by Boston Consulting Group.

In terms of investments, Hotstar led the way infusing $300 million in 2017 followed by both Netflix and Amazon Prime Videos who spent between $70-80 million each in the same year.

However, top players in the over-the-top (OTT) market are struggling with maintaining consumers as half of the users uninstall the apps within seven days of installing it.

India’s ‘hyper competitive’ market for over-the-top content has attracted global as well as local players to capture the rapidly-growing video and online content streaming market.

The number of players competing in India’s OTT market has dramatically increased, growing nearly four times in the last six years from nine players in 2012 to 32 players in 2018, said a recent
report by the Boston Consulting Group.

Here are the main players in India online streaming market:

It is not just the number of new entrants in the OTT market, the original content streamed by OTT players is also evolving at a rapid rate. Since a key way to woo the Indian consumer is to generate new original content, most of the players including Netflix, Hotstar and Voot are betting big on various types of original content.

As a result, the demand for original Indian content lead to ‘burst of big money’ in 2017.

Hotstar, which also has the exclusive rights to stream cricket franchise, Indian Premier League, invested around $300 million in the OTT market. Both Netflix and Amazon Prime Video infused $70-80 million in their respective video streaming platforms.

However, despite the surge in the OTT market, retention of consumers remains a challenge for all the major players, said the report.

Nearly half of the consumers uninstall online streaming apps within a week of using it for the first time making it difficult for all the video-streaming platforms to compete for the race of top three, added the report.